Royal Dutch Shell plc .com Rotating Header Image

Posts Tagged ‘Scandal’

Shell money laundering of Al-Yamamah proceeds

By John Donovan

In September 2009, we published an article headlined: BAE Systems whistleblower accuses Shell & BP of money laundering Al-Yamamah proceeds

Al-Yamamah was the Saudi/UK corruption scandal investigated by the UK Serious Fraud Office until the investigation was stopped in its tracks by the then PM, Tony Blair, a man not known for being incorruptible or honest. Blair gave in to threats from the repressive Saudi regime. In my lifetime, this was a low point in the UK’s international reputation, along with the Suez fiasco.

The scandal involved bartering oil for arms. The proceeds were laundered through Shell and BP.

Our story came from a Saudi BAE Systems insider. I met the individual a number of times. He said that he had already been interviewed in the USA by the US Justice Department, who were carrying out their own investigation after the UK investigation was terminated in the dubious and shameful circumstances I have mentioned.

I spoke to a source in Washington who confirmed the basics of the information the BAE whistleblower had supplied to me about his contact with the US authorities.

In our article, we named Prince Turki Bin Nasir as being a key player/beneficiary in the corruption scandal, along with Shell and BP.

The scandal is now beginning to unravel because of WikiLeaks. See:

Revelations in BAE Saudi case prompt inquiry call: The Telegraph 12 March 2011

Leaked US diplomatic cable disclosed the full case against BAE Systems, the defence contractor: The Telegraph 12 March 2011

INSPECTOR GENERAL REPORT ON GALE NORTON, SHELL SCANDAL – PART 1

The Office of Inspector General concluded an investigation based on a complaint that Royal Dutch Shell (Shell) received preferential treatment during the awarding of oil shale Research, Development, and Demonstration (RDD) leases in 2005 and 2006 by the Bureau of Land Management (BLM). Since former Secretary Gale Norton subsequently secured employment with Shell, we expanded our investigation to consider her involvement…

Click to continue reading “INSPECTOR GENERAL REPORT ON GALE NORTON, SHELL SCANDAL – PART 1″

US probes target British business

British-linked businesses are the prime foreign targets of US corporate bribery probes, according to research published on Monday that highlights how UK companies and executives are being caught up in Washington’s purge on international corporate corruption.

Click to continue reading “US probes target British business”

Amsterdam court sets $352.6m Shell pay-outs

An Amsterdam court on Friday paved the way for pay-outs to commence in a settlement of Royal Dutch Shell’s oil and gas reserves misreporting scandal.

Click to continue reading “Amsterdam court sets $352.6m Shell pay-outs”

UBS slashes 8,700 jobs and faces an uncertain future: Peter Voser has been a UBS director since April 2005

ZURICH (Reuters) – UBS AG will cut 11 percent of staff as it tries to stem losses and client withdrawals, its new chief executive said on Wednesday, warning that Switzerland’s largest bank still faces an uncertain future.

Click to continue reading “UBS slashes 8,700 jobs and faces an uncertain future: Peter Voser has been a UBS director since April 2005″

News headlines file for Royal Dutch Shell Sex and Drugs Scandal

Selection of news headline links to articles about the Royal Dutch Shell Sex and Drugs Scandal in the USA. Also related reports prepared for the Office of Inspector General of the U.S. Department of the Interior.

Click to continue reading “News headlines file for Royal Dutch Shell Sex and Drugs Scandal”

Not even a good old-fashioned sex scandal could get our outrage going again

Not even a good old-fashioned sex scandal could get our outrage going again. Indeed, a juicy one erupted last year in the Interior Department, where the inspector general found that officials “had used cocaine and marijuana, and had sexual relationships with oil and gas company representatives.” Two officials tasked with marketing oil on behalf of American taxpayers got so blotto at a daytime golf event sponsored by Shell that they became too incapacitated to drive and had to be put up by the oil company.

Click to continue reading “Not even a good old-fashioned sex scandal could get our outrage going again”

BAE chief quizzed in suspected bribery probe *(Shell has been described as playing a money-laundering role in BAE/Saudi oil-for-arms scandal)

The BAE deal is one of a number being probed by the SFO since it caused an international outcry in 2006 by scrapping a probe into the group’s supply of tens of billions of pounds of arms to Saudi Arabia.

Click to continue reading “BAE chief quizzed in suspected bribery probe *(Shell has been described as playing a money-laundering role in BAE/Saudi oil-for-arms scandal)”

Shell starts corruption scandal inquiry

Houston’s Shell Oil Co. has launched an internal probe to examine the explosive findings of the Interior Department’s Inspector General regarding fraternizing between oil company workers and the U.S. Minerals Management Service.

Click to continue reading “Shell starts corruption scandal inquiry”

FSA fines Credit Suisse £5.6m for deliberate mispricing

The largest fine – £17m – was issued to Royal Dutch Shell for market abuse. The FSA cited Shell’s “unprecedented misconduct” after it mis-stated its reserves.

Click to continue reading “FSA fines Credit Suisse £5.6m for deliberate mispricing”